OTTAWA , Oct. 17, 2019 /CNW/ - This week, in celebration of Small Business Month, we're pleased to announce the limited release of our Alterna Bank Digital Small Business Banking solution. Created in partnership with nCino – a leader in transformative financial digital solutions – Alterna Bank now offers a streamlined business account opening process that is available 24/7, online and on mobile devices. We are very pleased to be helping small business owners spend more of their valuable time building their businesses and focussing on what's important.
Small business owners are entrepreneurial and frequently have to move rapidly to capitalize on a new business idea or opportunity. Several have expressed difficulty in finding a financial institution that can respond quickly to their needs. Bigger financial institutions are often too slow and rigid. In contrast, Alterna Bank is agile. We recognize the importance of being able to respond quickly to the needs of busy entrepreneurs who are looking to bank with greater simplicity, speed, and ease.
"We recognize that many small business entrepreneurs need more time to run their business. They also want to spend less time dealing with the complexities of business banking – and the big banks don't make it easy for them. At Alterna Bank, we knew that if we streamlined essential business banking services, like opening a business account and making it 100% digital, we could allow small business owners to return to their passion sooner! So we went on a journey to see if we could make a difference," says Rob Paterson , President and CEO of Alterna. "I'm thrilled that we have taken the first step to making small business banking easier. We haven't solved everything, but we are truly trying to help – that's the good in banking."
This solution was developed and informed by over a century of small business banking knowledge. Alterna Savings and Credit Union Limited – Alterna Bank's parent company – has been supporting communities and small businesses for 111 years. Because of our long history, we understand the challenges that entrepreneurs face.
"With the limited release of our Digital Small Business Banking solution, we applaud and recognize all those entrepreneurs of the past and the future who work so tirelessly to provide for themselves, their families, and their communities. Their businesses drive our economy and provide more than half of all private sector jobs in Canada . And like all entrepreneurs, Alterna Bank too is starting something new by taking this step and following with many more," says Rob.
Alterna Bank is the first Canadian digital bank and one of 1,100 financial institutions globally to use nCino technology, including 12 of the top 25 financial institutions in North America . The full launch of Alterna Bank's Small Business Solution will take place in late 2019.
About Alterna Bank
Alterna Bank is The Good in Banking. As one of the most innovative digital banks in Canada , Alterna Bank puts clients before profits while taking bold approaches to help Canadians manage, grow and save their money. Alterna Bank launched its highly competitive and award-winning high-interest eChequing, eSavings, RRSP and TFSA products in 2016, and convenient digital mortgages in 2017 through an easy-to-use digital banking platform. In addition, Alterna Bank customers have access to the largest surcharge-free ATM network in Canada with THE EXCHANGE® Network, providing access to over 3,700 ATMs.
Alterna Bank is a wholly-owned subsidiary of Alterna Savings and Credit Union Limited, which is the first member-owned cooperative financial institution outside Quebec and which has been operating in Ontario communities for 111 years.
SOURCE Alterna Savings and Credit Union Limited
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